The Board of Directors of Ghazi Fabrics International Limited (PSX: GFIL) has approved the sale of approximately 175 Kanal and 10 Marla of land located in Mohal Chak No 66 (Dina Nath), Tehsil Pattoki, District Kasur. The decision was taken through a resolution passed during a duly convened board meeting held on May 12, 2025, according to a company notification to the Pakistan Stock Exchange.
The board’s move is part of the company’s broader strategy to optimise asset utilisation and enhance shareholder value. However, the proposed transaction remains subject to shareholder approval in accordance with Section 183(3)(a) of the Companies Act, 2017.
Details pertaining to the buyer, sale consideration, and payment method will be disclosed upon finalisation of the transaction, in line with applicable legal and regulatory requirements.
To seek shareholder approval, the company has scheduled an Extraordinary General Meeting (EOGM) for June 4, 2025, at 10:00 AM at its registered office at 8-C, E-III, Gulberg-III, Lahore. Formal notice of the meeting will be issued in due course.
